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Veerathai receives royal command

Veerathai Santiprabhob was on Wednesday granted a Royal Command to become the governor of the Bank of Thailand on October 1.

The Royal Gazette published the approval yesterday.

MEHL welcomes report

Myanmar Economic Holdings Ltd (MEHL) said yesterday it welcomed an independent valuer’s report ordered by an arbitral tribunal appointed to settle its dispute with Fraser & Neave over the latter’s 55-per-cent stake in Myanmar Brewery.

The independent valuer yesterday estimated the fair value of F&N’s stake at 500 billion kyat (Bt14 million).

U Nay Wynn, director of Myanmar Brewery, said the conclusion of the valuation takes the brewer one step nearer to a final closure of an unexpectedly long-drawn process to protect its rights under its joint venture agreement with F&N.

“Myanmar Brewery stands ready and willing to conclude the sale and purchase of F&N’s stake in Myanmar Brewery at 500 billion kyat within the 30-day period ordered by the arbitral tribunal.”

Thyssenkrupp invests

ThyssenKrupp Industrial Solutions, the plant engineering and construction specialist of ThyssenKrupp Group, is committed to investing more than US$20 million (Bt693 million) in new technologies and related acquisitions this year and the next to celebrate its twenty-fifth anniversary in Thailand.

Jens Wegmann, chief operating officer, said yesterday that to further strengthen its regional footprint, the company will also invest in a new research and development centre in Rayong, including pilot plants and laboratory infrastructure.

The R&D centre will complement the existing engineering hub in Thailand, making it the technology and competence hub for oleochemical technologies within ThyssenKrupp Industrial Solutions.

The acquisition comprises three technology platforms in the fields of alkoxylation, esterification and fatty amines.

The worldwide production capacity in these fields is estimated at seven million tonnes per year, and can be found in the cosmetics, food, health supplements and pharmaceutical industries. Fatty amines are also used in applications for the oilfield, metal and agrochemicals industries.

Less methane in rice

Scientists said on Wednesday they had created a rice variety with starchier grains that emits less methane, a step towards the twin goals of feeding more people and curbing global warming.

The cultivation of rice, a staple starch for billions of people, is also mankind’s major emitter of methane, a potent climate-altering gas.

Methane lives for a shorter time in the atmosphere than carbon dioxide, the most abundant greenhouse gas, but traps far more heat radiated from Earth’s surface.

Every year, rice paddies pump out 25 million-100 million tonnes of methane – the second-most important greenhouse gas at about 16 per cent. This means a high risk for the planet, as rice cultivation expands to feed a growing population, said their paper, published in the journal Nature. – Agence France-Presse

SEC revamps chain of command

The Securities and Exchange Commission of Thailand (SEC) has announced an organisational restructuring to be more responsive to needs of each stakeholder group.

By adopting an “end-to-end” approach, the restructuring will change the chain of command to boost public awareness by creating a more comprehensive and clearer operation while an executive reshuffle will also be undertaken. The restructuring will become effective as of August 1, 2015.

In this regard, the SEC has appointed the following new directors: Pariya Techamuanvivit, director of corporate affairs department; Somsuda Tanchanpongs, director of corporate governance department; Sittasri Nakasiri, director of enterprise risk management department; Sarica Apiwatthakakul, acting director of intermediaries licensing and SME financing department; Oratai Nimtavorn, acting director of investment management supervision and inspection department; Namtip Synsukpermpoon, acting director of securities regulation department 2; and Chatchai Thisadoldilok, acting director of research department.

Greenlight for high-tech zone in Vietnam

The Dong Nai People’s Committee has been issued a licence for the construction of the Long Thanh High-Tech Industrial Zone, the first high-tech industrial zone in the province.

The Amata Viet Nam joint-stock company is investing in the project with funding from Thailand. The zone will be spread over more than 410 hectares in the Tam An and An Phuoc communes and Long Thanh town.

Total investment in the project is estimated at more than US$300 million and will be developed in two stages, from 2015 to 2017 and from 2017 to 2020.

Dinh Quoc Thai, chairman of the Dong Nai People's Committee, said the establishment of the zone was in line with the province’s development strategy to attract investments in high-tech projects.

Dong Nai now has more than 1,300 projects with foreign investment, totalling more than $26 billion.– Viet Nam News/ANN